ICICI Prudential PMS PIPE Strategy


Alpha (1Y) Beta (1Y) Standard Deviation (1Y) % of +ve Months (SI)
34.12% 0.63 16.58% 65.85%

Key Portfolio Attributes

Anand Shah

Suraj Nanda

Inception Date: Sep 2019

Number of Stocks : 32

Portfolio Managers: Anand Shah & Suraj Nanda

Portfolio Managers’ Experience:

Anand Shah- 20+ years

Suraj Nanda- 10+ years

Portfolio Managers’ Qualification:

Anand Shah- PGDM from IIM Lucknow

Suraj Nanda- PGDM from SP Jain Institute of Management, Mumbai and Bachelor in Electronics, from Jadavpur University, West Bengal.

Investment Objective

ICICI Prudential PMS PIPE Strategy aims to provide long-term capital appreciation and generate returns by investing predominantly, in Mid and Small Cap segment of the market by having exposure in companies enjoying some economic moat; and/or undergoing special situations or in the midst of unfavourable business cycle.

ICICI Prudential PMS PIPE Strategy aims to identify tomorrow’s leaders by picking businesses that are benefitting from both earnings growth and P/E rating.

Investment Philosophy

ICICI Prudential PMS PIPE Strategy may look to invest in companies which are fundamentally strong, and which may be considered to be one of the market leaders in their industries. Additionally, the PIPE Strategy will aim to invest in companies where the market capitalization at the time of investment is very small but has the potential to become large because of various dynamics like strong / upcoming business line, effective management, improving margins etc.

 

The Portfolio Manager of ICICI Prudential PMS PIPE Strategy shall consider one or more of the following aspects for identifying the stocks to invest in – Stocks which have potential growth opportunities provided by business cyclicality, special situations, and/or mispricing by the market. Qualitative assessment based on the concept of ‘Moat’ which allows a firm to earn above-average returns on capital over a long period of time. Concept of Moat provides an analytical framework for selecting companies that usually perform better as compared to their competitors for a number of years the moat exists. (The details pertaining to the investment approach mentioned herein is a subset of details specified in the Disclosure Document. Kindly refer the Disclosure Document for the detailed investment approach and risk factors)

Investment Framework

The core belief of ICICI Prudential PMS PIPE Strategy is that Companies create wealth, not markets.

The investment framework of ICICI Prudential PMS PIPE Strategy is to identify prominent businesses at reasonable valuations, which have competent management.

Prominent Businesses

• Company growing faster than industry &industry faster than market

• Qualitative assessment based on the concept of “economic moats*”

• Foreseeable changes in business leading to a positive outcome

Reasonable Valuations

• Cash flow is central in our Investment Process about a company’s value

• Evaluation of margin of safety required according to the ‘moat’ and competence of management

• Better risk reward profile

Competent Management

• Focused on growth, improving margins &prudent capital allocation

• Competent managers with a credible track record

• Fair corporate governance standards, with aligned shareholder interests

Investment Strategy

ICICI Prudential PMS PIPE Strategy aims to:

• Invest in growth stories which seem sustainable. This has the potential of price appreciation backed by Earnings Per Share growth.

• Invest in companies with possibilities of demand explosion and margin expansions. This improves visibility and valuations leading to PE re-rating.

• Buy businesses undergoing special situations, cyclicality and mispriced by the market, now available at huge discount. This aims at providing margin of safety.

 

Awards & Achievements

Across ICICI Prudential PMSs & AIFs

• In 2023, ICICI Prudential PMS Contra Strategy was awarded as the Best PMS across all categories, on a 1Y Risk-Adjusted Returns. These Awards were hosted by PMS AIF WORLD, in association with IIM-Ahmedabad.

• In 2021, ICICI Prudential Long Short Fund, a Cat III Long Short AIF, was awarded as the Best AIF in the Cat III Long Short category, on a 2Y Absolute Returns basis. These Awards were hosted by PMS AIF WORLD, in association with IIM-Ahmedabad.




Performance Table #


Trailing Returns (%) 1m return 3m return 6m return 1y return 2y return 3y return 5y return 10y return Since inception return
ICICI Prudential PMS PIPE Strategy-2.3%-2.8%0.7%16.3%23.7%28.8%-24.6%
BSE Small Cap-2.3%-6.3%-3.9%5.2%13.7%22.2%-22.3%



QRC Report Card *




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Portfolio Holdings


Holding %
Sarda Energy and Minerals Ltd 6.37
Godawari Power and Ispat Ltd 6.19
The Great Eastern Shipping Company Ltd 6.17
Equitas Holdings Limited 5.75
VRL Logistic Ltd 5.03
Top 5 Equity Holdings 29.51

Sector Allocation


Holding %
Transport Services 14.98
Ferrous Metals 12.56
Auto Components 10.75
Finance 9.53
Banks 8.75

Market Cap Allocation


Allocations %
Large Cap 0.0
Mid Cap 3.7
Small Cap 91.8
Cash 4.6


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Disclaimer

#Returns as of 28 Feb 2023. Returns up to 1 Year are absolute, above 1 Year are CAGR.

*QRC Report Card data is updated quarterly. Current data is as of Dec 22.




Related Investments

ICICI Prudential PMS Value Strategy
ICICI Prudential PMS Large Cap Strategy
ICICI Prudential PMS Flexi Cap Strategy
ICICI Prudential PMS Contra Strategy
ICICI PRUDENTIAL Long Short Fund – Series I – Category III AIF
ICICI Prudential PMS Core Strategies PMS

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